The operator of a prediction market is concluding a new capital raise to secure additional growth funding from institutional investors. Kalshi is finishing the procurement of approximately $1 billion in new capital, which places the company's valuation at roughly $40 billion, according to Reuters and Bloomberg. This funding phase is likely the platform's last private raise before it pursues an initial public offering as early as next year.

The current valuation is an 82% increase from the $22 billion valuation recorded during a separate $1 billion fundraise in May. Sequoia Capital and Wellington Management are in talks to lead the round, while Tiger Global and Dragoneer are also among the prospective participants. An SEC filing from August indicates the company had already raised $1.12 billion between April and August.